ECO202 Unit 1 Discussion

ECO202 Unit 1 Discussion

Unit 1 Class DB: Ten Principles of Economics(ECO202)

Choose an article published in the last two weeks in one of these three resources (Wall Street Journal, Business Week, Economist).  Discuss how the article relates to one or more of the Ten Basic Principles of Economics:

1. People Face Trade-offs
2. The Cost of Something Is What You Give Up to Get it
3. Rational People Think at the margin
4. People Respond to Incentives
5. Trade Can Make Everyone Better Off
6. Markets Are Usually a Good Way to Organize Economic Activity
7. Governments Can Sometimes Improve Market Outcomes
8. A Country’s Standard of Living Depends on Its Ability to Produce Goods and Services
9. Prices Rise When the Government Prints Too Much Money
10. Society Faces a Short-Run Trade-off between Inflation and Unemployment